Washington State Insurance Exam
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Terms in this set (122)
,is the Apparent
appearance or
assumption of
authority based
on the actions,
words, or deeds
of the principal
or because of
circumstances
the principal
created.
,Owned by the Mutual Company
policyowner
and issue
participating
policies. Policy
owners are
entitled to
dividends,
which are a
return of excess
premiums and
are therefore
non-taxable.
Dividends are
not guaranteed.
, A method of Sharing
dealing with risk
for a group of
individual
persons or
businesses with
the same or
similar exposure
to loss to share
the losses that
occur within
that group. A
RECIPROCAL
insurance
exchange is a
form of risk-
sharing
arrangement.
Study Guide ( Version) | All
Questions and Correct Answers |
Verified Answers | Just Released |
Newest Version
Save
Terms in this set (122)
,is the Apparent
appearance or
assumption of
authority based
on the actions,
words, or deeds
of the principal
or because of
circumstances
the principal
created.
,Owned by the Mutual Company
policyowner
and issue
participating
policies. Policy
owners are
entitled to
dividends,
which are a
return of excess
premiums and
are therefore
non-taxable.
Dividends are
not guaranteed.
, A method of Sharing
dealing with risk
for a group of
individual
persons or
businesses with
the same or
similar exposure
to loss to share
the losses that
occur within
that group. A
RECIPROCAL
insurance
exchange is a
form of risk-
sharing
arrangement.
